Question

The Majoring in Money study by Sallie Mae from December 2015 showed that most college students manage theit card balance in full every month and 25% of students who own credit cards make partial payments that exceed the has changed since 2015 and collect data from a random sample of 380 students. You find that 70 students are ma Q = 0.05, complete parts a and b below. O C. Ho:p>0.25 OD. HE H1: ps 0.25 H Determine the critical value of the test statistic. 2x = (Type an integer or decimal rounded to two decimal places as needed.) Calculate the test statistic. 2p=0 (Type an integer or decimal rounded to two decimal places as needed.) Determine the conclusion. Choose the correct answer below.

Answer 1

Solution :

Null and alternative hypotheses are

Ho: P=0.25

H1:P<0.25

sample size =380

Sample proportion =x/n =70/380

= 0.184

a) Z critical value = 1.645 = 1.65

b) Z test statistic = (p-p0) /sq(p0(1-p0)/n)

= (0.184-0.25)/sq((0.25*0.75)/380)

= - 2.971

Test statistic Z = - 2.97

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